RESOLUTION

WHEREAS, the State's economy is in the doldrums and may worsen with the impending threat of war, and accordingly, the State must leverage every dollar in its budget and maximize use of its funds; and

WHEREAS, special and revolving funds have come under increasing scrutiny, as they can tie up or encumber state funds that may be better used elsewhere; and

WHEREAS, an audit of special and revolving funds will show not only how much money is in the funds, but whether the funds have outlived or outstripped their purposes and should be modified or repealed for the better use of state funds; and

WHEREAS, the University of Hawai`i system in particular has a number of special and revolving funds that should be reviewed to determine whether they are still needed and, if necessary, revamped to more accurately target use of state moneys; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-second Legislature of the State of Hawaii, Regular Session of 2003, the Senate concurring, that the Auditor is requested to perform an audit of the special and revolving funds of the University of Hawai`i; and

BE IT FURTHER RESOLVED that the Auditor is requested to submit the results of the audit to the Legislature at least twenty days prior to the convening of the regular session of 2004; and

BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Auditor, the Chairperson of the Board of Regents of the University of Hawai`i, and the President of the University of Hawai`i.

Report Title:

Audit, UH Special and Revolving Funds